Home prices fall in Southern California for the first time in 7 years
The Southern California median home price dipped slightly in March from a year earlier, the first annual decrease since 2012 and a sign of a remarkable downshift from the once-sizzling regional housing market.
The 0.1 percent drop, reported Friday by CoreLogic, means prices for the six-county region were essentially flat year-over-year. But given a pullback in previous months, prices are $18,500 off their June 2018 peak, and that raises the possibility of a sustained decline in months ahead.
The median price for new and resale houses and condos - the point where half the homes sold for more and half for less - was $518,500 in March, $500 less than a year ago and off the all-time high of $537,000 reached in June.
The dip from March 2018 doesn't mean values declined across the board. In fact, when broken down
